UAE Virtual Asset Regulatory Authority (VARA) Regulations
Compliance and Risk Management Rulebook – UAE Virtual Asset Regulatory Authority (VARA) Regulations

UAE Virtual Asset Regulatory Authority (VARA) Regulations CRM-V: Compliance and Risk Management Rulebook V: Client virtual assets

What does CRM-V require?

Client virtual assets (including where the firm controls keys or seed phrases) are not the firm's assets or liabilities and fall outside its estate; hold them in wallets separate from the firm's own, labelled Client VA Wallet in the records, one-to-one without rehypothecation unless the client gives explicit prior discretionary consent and the firm is licensed for the activity; pass airdrops, staking gains and similar proceeds to clients unless agreed otherwise (with disclosed de minimis thresholds); take no ownership except into a trust for clients within one day; meet VARA's proof of reserves requirements; reconcile each client's holdings daily and notify VARA of unresolved material discrepancies.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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